AID:Tech, a digital crusader

According to Chris Wellisz, today, bribery alone is estimated to cost $2 trillion a year worldwide, about equal to the GDP of Italy and many times the $142 billion in global development aid.

Whilst corruption is a leading impediment to growth; it deters private investment, participation and channels funds into waste, there is a multitude of responses on offer, some by the world’s leading institutions, including the UN and the IMF, others by startups around the world.

‘Doing well by doing good’

AID:Tech and our CEO, Joseph Thompson are featured in the publication as a leading example of startups leveraging emerging technology in innovative manners to tackle fraud and corruption. Our Lebanon pilot with the Irish Red Cross is a key example, where digital identites were successfully distributed as basis for Syrian refugees in Lebanon to obtain the goods and services they needed.

This is a cheaper, more transparent, faster, and efficient way of not just obtaining the donation, but actually getting the donation to the beneficiary in the end,” Danny Curran — Head of Fundraising and Commercial Services, the Irish Red Cross